Ivan Eland over at the Independent Institute writes, “Harding—and his successor Calvin Coolidge, who largely continued Harding’s peaceful polices abroad and fiscal conservatism at home—presided over one of the few times, since its origin in the 1850s, that the Republican Party has actually given the American people small government (the others being the one-term of Rutherford B. Hayes and perhaps the one term of Chester Arthur, both in the late 1800s).”